CalPERS made more than $4 billion in follow-on real estate commitments to existing joint ventures in July, said documents released in connection with the pension fund's Sept. 15 investment committee meeting.
The biggest commitment, $1.5 billion, was to Fifth Street Properties, managed by CommonWealth Partners, followed by $900 million to Institutional Multifamily Partners, a co-investment joint venture between affiliates of General Investment & Development and the $288 billion California Public Employees' Retirement System, Sacramento, according to information on the joint venture's website.
The pension fund also committed $600 million to Institutional Mall Investors, a co-investment venture owned by an affiliate of Miller Capital Advisory and CalPERS, and another $600 million went to Institutional Logistics Partners, a joint venture between CalPERS and Bentall Kennedy.
Other commitments include $387 million to Pacific Multifamily Investors, a partnership with Pacific Urban Residential; $310 million to Global Retail Investors, managed by First Washington Realty; and $225 million to CalEast Solstice, a joint venture between CalPERS and GI Partners.
Also, $100 million was committed to Canyon Catalyst Fund, a joint venture between Canyon Partners Real Estate and CalPERS; and $50 million to AGI ResmarkHousing Fund, a joint venture between ResmarkCos. and CalPERS.
Also, $150 million was committed to TechCore, a joint venture between CalPERS and GI Partners.
Further information could not be learned by press time.